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Posted: 9/28/2011 7:19:47 PM EST
[#1]
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it is so fucking past time it's pathetic. Helluva lot of research and digging went into that article. Maybe my post would be clearer with a fo between the past and the time |
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Posted: 9/28/2011 7:47:14 PM EST
[#2]
Quoted: Hussey Copper files bankruptcy papershttp://www.timesonline.com/news/hussey-copper-files-bankruptcy-papers/article_d56cd054-1db9-5338-8ede-4b0ebc7a96e2.html Hussey Copper Ltd., a163-year-old company headquartered in Leetsdale for the past 58years, filed a Chapter 11 petition Tuesday. The petition says Hussey employees 536 people, including 190union workers in Leetsdale. The corporation also operates twoplants in Kentucky. Hussey Copper owes $38.1 million to a group of lenders,including PNC bank, and owes $29 million to vendors, primarilymetals suppliers, according to court documents. Hussey'sdocumentation included a list of 20 creditors owed between $9million and $158,000. Cronimet Trading Corp. of Rochester is owed$1 million, and Beaver Valley Slag of Aliquippa is owed$169,000. The article doesn't state what business Hussey copper is in, but it can't be mining. |
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Posted: 9/28/2011 9:49:03 PM EST
[#3]
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Hussey Copper files bankruptcy papershttp://www.timesonline.com/news/hussey-copper-files-bankruptcy-papers/article_d56cd054-1db9-5338-8ede-4b0ebc7a96e2.html Hussey Copper Ltd., a163-year-old company headquartered in Leetsdale for the past 58years, filed a Chapter 11 petition Tuesday. The petition says Hussey employees 536 people, including 190union workers in Leetsdale. The corporation also operates twoplants in Kentucky.
Hussey Copper owes $38.1 million to a group of lenders,including PNC bank, and owes $29 million to vendors, primarilymetals suppliers, according to court documents. Hussey'sdocumentation included a list of 20 creditors owed between $9million and $158,000. Cronimet Trading Corp. of Rochester is owed$1 million, and Beaver Valley Slag of Aliquippa is owed$169,000.
The article doesn't state what business Hussey copper is in, but it can't be mining. Copper fabrication. I'll bet the EPA rules put them out of biz. It's a sort of 'dirty' business, not one our overlords want us to have much to do with. China and India can likely handle the shorttake fine. The ex-employees can go for reeducations and collect lotsa imaginary $$$ from the .gov remaining taxpayers. Obama and his cronies can smile with a job well done putting another historic US company out of biz and another step closer to their dream of a Totalitarian takeover. |
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Posted: 9/29/2011 2:01:40 AM EST
[#4]
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Hussey Copper files bankruptcy papershttp://www.timesonline.com/news/hussey-copper-files-bankruptcy-papers/article_d56cd054-1db9-5338-8ede-4b0ebc7a96e2.html Hussey Copper Ltd., a163-year-old company headquartered in Leetsdale for the past 58years, filed a Chapter 11 petition Tuesday. The petition says Hussey employees 536 people, including 190union workers in Leetsdale. The corporation also operates twoplants in Kentucky.
Hussey Copper owes $38.1 million to a group of lenders,including PNC bank, and owes $29 million to vendors, primarilymetals suppliers, according to court documents. Hussey'sdocumentation included a list of 20 creditors owed between $9million and $158,000. Cronimet Trading Corp. of Rochester is owed$1 million, and Beaver Valley Slag of Aliquippa is owed$169,000.
The article doesn't state what business Hussey copper is in, but it can't be mining. I started out by Googling who in the heck a 500+ man copper Army might be ... we've ceded another essential industry to the other side. |
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Posted: 9/29/2011 2:23:25 AM EST
[#5]
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it is so fucking past time it's pathetic. Helluva lot of research and digging went into that article. Maybe my post would be clearer with a fo between the past and the time  I understood you just fine.
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Posted: 9/29/2011 4:01:32 AM EST
[#6]
Initial Claims Beats By Multiple Standard Deviations As BLS Revisions Jump Again
We grow weary of reporting the consistent statistical anomaly that is the prior revision UP in the initial jobless claims. Headlines will read of the impressive job 'improving' situation as initial claims fell 37k on the week (a two standard deviation improvement which seems extremely unlikely given the macro/micro backdrop). Once again proving their ineptitude, the claims print was massively better than even the most optimistic economist estimate - an incredible six standard deviations better than consensus. This is the lowest initial claims print since April 1st (ironic really) and below 400k for only the second time in 25 weeks - though for a moment we must have some hope that this is a trend as ES pops 10pts.
UPDATE: Via Bloomberg (we couldn't resist) from TD Securities' Eric Green: "If its too good to believe, it probably is, and the BLS says as much"  Markets up 800 this week on the initials and the continuing "wait, we've got it this time" propaganda from Europe? |
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Posted: 9/29/2011 4:02:08 AM EST
[#7]
We're going to have a HUGE rally on Wall Street today.
Fewest Applications for Unemployment Since April ETA: Damnit! Beat again! |
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Posted: 9/29/2011 4:09:04 AM EST
[#8]
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We're going to have a HUGE rally on Wall Street today. Fewest Applications for Unemployment Since April ETA: Damnit! Beat again! 
And we'll have another HUGE rally when the revisions come out as several standard deviations worse - because the next month of initial claims will again look so much better in contrast. Sell the rumor! |
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Posted: 9/29/2011 4:11:21 AM EST
[#9]
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We're going to have a HUGE rally on Wall Street today. Fewest Applications for Unemployment Since April ETA: Damnit! Beat again!
And we'll have another HUGE rally when the revisions come out as several standard deviations worse - because the next month of initial claims will again look so much better in contrast. Sell the rumor! The numbers are all bullshit, anyway. When you have people on unemployment for 99+ weeks, you have major issues that need to be addressed before any true recovery can happen. |
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Posted: 9/29/2011 4:59:47 AM EST
[#10]
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Posted: 9/29/2011 5:07:13 AM EST
[#11]
Quoted: ^ I am out of debt. All of it, including the house. I am illiquid. What now? +1 I am still trying to figure that one out.
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Posted: 9/29/2011 5:25:32 AM EST
[#12]
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^ I am out of debt. All of it, including the house. I am illiquid. What now? +1 I am still trying to figure that one out. sit and wait this three year hiatus from reality has cost 3-6 trillion, any one think it's going to improve? anyone think another 3-6 trillion can be spent without major consequence? major fortunes were made by those that were liquid during the last depression, this will be no different, just look at what those who waited through 04-07 to buy a house have gained. Rabbit and the turtle |
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Posted: 9/29/2011 8:09:14 AM EST
[#13]
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^ I am out of debt. All of it, including the house. I am illiquid. What now? +1 I am still trying to figure that one out. sit and wait this three year hiatus from reality has cost 3-6 trillion, any one think it's going to improve? anyone think another 3-6 trillion can be spent without major consequence? major fortunes were made by those that were liquid during the last depression, this will be no different, just look at what those who waited through 04-07 to buy a house have gained. Rabbit and the turtle No, there is little similarity between the 1930's and now. The 'fortunes' will be made by the elite Left. Those who are liquid now will likely be robbed without mercy. |
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Posted: 9/29/2011 8:38:40 AM EST
[#14]
every time they print / borrow 140 billion dollars more, the GDP magically grows 1% Every time the real inflation rate is above what the official bull shit inflation rate is and then they adjust GDP numbers for inflation, the GDP magically grows It is all horse shit |
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Posted: 9/29/2011 8:49:40 AM EST
[#15]
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every time they print / borrow 140 billion dollars more, the GDP magically grows 1% Every time the real inflation rate is above what the official bull shit inflation rate is and then they adjust GDP numbers for inflation, the GDP magically grows It is all horse shit Whaaaaaaaaaaaaaaaaaaaaaaaaat? They would NEVER lie to us! 
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Posted: 9/29/2011 9:34:07 AM EST
[#16]
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^ I am out of debt. All of it, including the house. I am illiquid. What now? +1 I am still trying to figure that one out. sit and wait this three year hiatus from reality has cost 3-6 trillion, any one think it's going to improve? anyone think another 3-6 trillion can be spent without major consequence? major fortunes were made by those that were liquid during the last depression, this will be no different, just look at what those who waited through 04-07 to buy a house have gained. Rabbit and the turtle No, there is little similarity between the 1930's and now. The 'fortunes' will be made by the elite Left. Those who are liquid now will likely be robbed without mercy. See, for those who still don't understand, this is how it works with the Elite Lefists/marxists, while we stand around with our finger scratching our ass. Quote––- Crony Capitalism: $737 Million Green Jobs Loan Given to Nancy Pelosi's Brother-In-Law http://www.weeklystandard.com/blogs/crony-capitalism-737-million-green-jobs-loan-given-nancy-pelosis-brother-law_594593.html Suckers... 
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Posted: 9/29/2011 10:10:44 AM EST
[#17]
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^ I am out of debt. All of it, including the house. I am illiquid. What now? +1 I am still trying to figure that one out. sit and wait this three year hiatus from reality has cost 3-6 trillion, any one think it's going to improve? anyone think another 3-6 trillion can be spent without major consequence? major fortunes were made by those that were liquid during the last depression, this will be no different, just look at what those who waited through 04-07 to buy a house have gained. Rabbit and the turtle No, there is little similarity between the 1930's and now. The 'fortunes' will be made by the elite Left. Those who are liquid now will likely be robbed without mercy. See, for those who still don't understand, this is how it works with the Elite Lefists/marxists, while we stand around with our finger scratching our ass. Quote––- Crony Capitalism: $737 Million Green Jobs Loan Given to Nancy Pelosi's Brother-In-Law http://www.weeklystandard.com/blogs/crony-capitalism-737-million-green-jobs-loan-given-nancy-pelosis-brother-law_594593.html Suckers...
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Posted: 9/29/2011 10:47:18 AM EST
[#18]
Quoted: Quoted: Quoted: Quoted: Quoted: Quoted: ^ I am out of debt. All of it, including the house. I am illiquid. What now? +1 I am still trying to figure that one out. sit and wait this three year hiatus from reality has cost 3-6 trillion, any one think it's going to improve? anyone think another 3-6 trillion can be spent without major consequence? major fortunes were made by those that were liquid during the last depression, this will be no different, just look at what those who waited through 04-07 to buy a house have gained. Rabbit and the turtle No, there is little similarity between the 1930's and now. The 'fortunes' will be made by the elite Left. Those who are liquid now will likely be robbed without mercy. See, for those who still don't understand, this is how it works with the Elite Lefists/marxists, while we stand around with our finger scratching our ass. Quote––- Crony Capitalism: $737 Million Green Jobs Loan Given to Nancy Pelosi's Brother-In-Law http://www.weeklystandard.com/blogs/crony-capitalism-737-million-green-jobs-loan-given-nancy-pelosis-brother-law_594593.html Suckers...  States need to empty their prisons, of non-violent offenders, to make room for all the 'Pimps' that are guilty of TREASON!!!  OUR Representatives need to be held accountable; it's not happening on a National Level, so every State needs to step it up and write arrest warrants; Symbolism motivates action. WE the People are supposed to be the ultimate 'checks & balance', right?  |
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Posted: 9/29/2011 10:51:16 AM EST
[#19]
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http://static.howstuffworks.com/gif/prison-5.jpg
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^ I am out of debt. All of it, including the house. I am illiquid. What now? +1 I am still trying to figure that one out. sit and wait this three year hiatus from reality has cost 3-6 trillion, any one think it's going to improve? anyone think another 3-6 trillion can be spent without major consequence? major fortunes were made by those that were liquid during the last depression, this will be no different, just look at what those who waited through 04-07 to buy a house have gained. Rabbit and the turtle No, there is little similarity between the 1930's and now. The 'fortunes' will be made by the elite Left. Those who are liquid now will likely be robbed without mercy. See, for those who still don't understand, this is how it works with the Elite Lefists/marxists, while we stand around with our finger scratching our ass. Quote––- Crony Capitalism: $737 Million Green Jobs Loan Given to Nancy Pelosi's Brother-In-Law http://www.weeklystandard.com/blogs/crony-capitalism-737-million-green-jobs-loan-given-nancy-pelosis-brother-law_594593.html Suckers...
States need to empty their prisons, of non-violent offenders, to make room for all the 'Pimps' that are guilty of TREASON!!!
OUR Representatives need to be held accountable; it's not happening on a National Level, so every State needs to step it up and write arrest warrants; Symbolism motivates action. WE the People are supposed to be the ultimate 'checks & balance', right?
That Idea died in 1865 |
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Posted: 9/29/2011 11:07:05 AM EST
[#20]
Quoted: ...I think Laziness explains OUR current state of affairs.Quoted: Quoted: http://static.howstuffworks.com/gif/prison-5.jpgQuoted: Quoted: Quoted: Quoted: Quoted: ^ I am out of debt. All of it, including the house. I am illiquid. What now? +1 I am still trying to figure that one out. sit and wait this three year hiatus from reality has cost 3-6 trillion, any one think it's going to improve? anyone think another 3-6 trillion can be spent without major consequence? major fortunes were made by those that were liquid during the last depression, this will be no different, just look at what those who waited through 04-07 to buy a house have gained. Rabbit and the turtle No, there is little similarity between the 1930's and now. The 'fortunes' will be made by the elite Left. Those who are liquid now will likely be robbed without mercy. See, for those who still don't understand, this is how it works with the Elite Lefists/marxists, while we stand around with our finger scratching our ass. Quote––- Crony Capitalism: $737 Million Green Jobs Loan Given to Nancy Pelosi's Brother-In-Law http://www.weeklystandard.com/blogs/crony-capitalism-737-million-green-jobs-loan-given-nancy-pelosis-brother-law_594593.html Suckers... States need to empty their prisons, of non-violent offenders, to make room for all the 'Pimps' that are guilty of TREASON!!! OUR Representatives need to be held accountable; it's not happening on a National Level, so every State needs to step it up and write arrest warrants; Symbolism motivates action. WE the People are supposed to be the ultimate 'checks & balance', right? That Idea died in 1865  |
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Posted: 9/29/2011 3:24:34 PM EST
[#21]
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Hussey Copper files bankruptcy papershttp://www.timesonline.com/news/hussey-copper-files-bankruptcy-papers/article_d56cd054-1db9-5338-8ede-4b0ebc7a96e2.html Hussey Copper Ltd., a163-year-old company headquartered in Leetsdale for the past 58years, filed a Chapter 11 petition Tuesday. The petition says Hussey employees 536 people, including 190union workers in Leetsdale. The corporation also operates twoplants in Kentucky. Hussey Copper owes $38.1 million to a group of lenders,including PNC bank, and owes $29 million to vendors, primarilymetals suppliers, according to court documents. Hussey'sdocumentation included a list of 20 creditors owed between $9million and $158,000. Cronimet Trading Corp. of Rochester is owed$1 million, and Beaver Valley Slag of Aliquippa is owed$169,000. The article doesn't state what business Hussey copper is in, but it can't be mining. Copper fabrication. I'll bet the EPA rules put them out of biz. It's a sort of 'dirty' business, not one our overlords want us to have much to do with. China and India can likely handle the shorttake fine. The ex-employees can go for reeducations and collect lotsa imaginary $$$ from the .gov remaining taxpayers. Obama and his cronies can smile with a job well done putting another historic US company out of biz and another step closer to their dream of a Totalitarian takeover. _A certain poster repeatedly assured us that we don't need these sorts of jobs in America. They are low-value-added and only cloddish losers like the Indians and Chinese should be engaged in performing them. This is good news for America. I, for one, welcome our EPA overlords. |
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Posted: 9/29/2011 3:29:11 PM EST
[#22]
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major fortunes were made by those that were liquid during the last depression, this will be no different, just look at what those who waited through 04-07 to buy a house have gained. Rabbit and the turtle No, there is little similarity between the 1930's and now. The 'fortunes' will be made by the elite Left. Those who are liquid now will likely be robbed without mercy. In case you guys missed it: http://www.ar15.com/forums/t_1_5/1235634_401K_Changes_being_proposed__401_k__Tax_Changes_May_Be_On_Fast_Track___The_Street.html Looks like it's time to raid everyone's 401(k) accounts! HA HA HA HA HA HA HA HA HA! Don't buy gold, you poor deluded GoldBugs(TM), only suckers would buy something that FDR confiscated in 1932! Put your money into your 401(k) plan where it's safe!!! 
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Posted: 9/29/2011 7:52:57 PM EST
[#23]
3 years ago today I posted this Posted: 9/29/2008 10:58:59 AM CDT Based on the current situation many think there will be an economic collapse. So, how much time from today (1 month, 3 months, 6 months, a year) has to pass before you will admit there was no economic collapse from the current situation? And no you can't say 20 years. WAY to many things will happen between now and then and the current problem will be as out of mind as the early 70's gas shortages. 3 years later. Many of you still think that collapse is going to happen within months. We know it isn't 3 years. So, will it take 3 years from now to understand the the economy isn't going to collapse from the conditions of Fall of 2011? I don't have the time to debate daily anymore. But I will come back from time to time to let you know the economy is still here. RRA, you LOVE to make fun of me and the word stagnant. Look at the last 36 months and look at what is likely for the next couple of years at least. Keep making fun of me. |
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Posted: 9/29/2011 8:08:24 PM EST
[#24]
What happened to the complete collapse of the housing market? Fist-of-Freedom Posted: 8/27/2010 1:40:52 AM EDT Yet, the gravitational pull of reality waxes increasingly -irresistible. By Michael Snyder for, The Economic Collapse via Business insider Aug. 20, 2010 "The U.S. economy is in decline. The employment situation is going to go from bad to worse. Americans without jobs are Americans that cannot buy homes. Millions of Americans who are employed are finding it increasingly difficult to make it from month to month. The truth is that there is no way that Americans can afford the ridiculously inflated home prices that we have seen over the past decade any longer. So, yes, the U.S. housing market is headed for a complete and total nightmare." 15 Signs Housing Market Is Headed for a... Complete Collapse News story from yesterday. NEW YORK | Wed Sep 28, 2011 8:19am EDT NEW YORK (Reuters) - Applications for U.S. home mortgages rose last week, reflecting a jump in demand for home loan refinancing as mortgage rates dropped, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 9.3 percent in the week ended Sept 23. The MBA's seasonally adjusted index of refinancing applications rose 11.2 percent, while the gauge of loan requests for home purchases rose 2.6 percent. Fixed 30-year mortgage rates averaged 4.25 percent in the week, down 4 basis points from 4.29 percent the week before. "Mortgage rates declined last week, at least partially in response to the Fed's announcement that they would shift their portfolio toward longer-term Treasury securities, and that they would resume buying mortgage-backed securities," Mike Fratantoni, MBA's Vice President of Research and Economics, said in a statement. The U.S. Federal Reserve last week unveiled a new stimulus plan to support the economy's recovery and help the mortgage market. U.S. mortgage rates are linked to yields on U.S. Treasuries and mortgage-backed securities. The housing market isn't booming of course, but it sure isn't in a total collapse, nor heading there. |
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Posted: 9/29/2011 8:49:34 PM EST
[#25]
From an earlier post ^^^^...
"Those who are liquid now will likely be robbed without mercy." Oh well, while you guyz are still in a good mood... "...the middle-and upper-class, which, if BCS is right, have a ~30% one-time tax on all their assets to look forward to as the great mean reversion finally arrives and the world is set back on a viable path." http://www.zerohedge.com/news/muddle-through-has-failed-bcg-says-there-may-be-only-painful-ways-out-crisis "and the world is set back on a viable path" What utter and complete horseshit! Without a reversal of laws and regs hamstringing production and employment, a reversal of Sheeple attitudes, [and at least] a semi-honest .gov, a reversal of the marxist/socialist infiltration of .gov/media/and pretty much every other American institution by now, etc... ...There is ABSOLUTELY NO POSSIBILITY OF A RECOVERY! Ever. Period. TRY TO GET THAT THRU YOUR HEADS!!!!! So, the few of you guys out there with some savings, get ready to lube up and fork it over to your overlords. This is the trial balloon going up, maybe they will ONLY want 20% [the first time around] so we won't have to cry too much since it wasn't 30%. What a deal -and a country! 
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Posted: 9/29/2011 9:07:28 PM EST
[#26]
^^^ another component of the "Engineered Destruction of the Middle Class".
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Posted: 9/30/2011 1:09:53 AM EST
[#27]
Quoted:
What happened to the complete collapse of the housing market?
Fist-of-Freedom Posted: 8/27/2010 1:40:52 AM EDT Yet, the gravitational pull of reality waxes increasingly -irresistible. By Michael Snyder for, The Economic Collapse
via Business insider Aug. 20, 2010 "The U.S. economy is in decline. The employment situation is going to go from bad to worse. Americans without jobs are Americans that cannot buy homes. Millions of Americans who are employed are finding it increasingly difficult to make it from month to month. The truth is that there is no way that Americans can afford the ridiculously inflated home prices that we have seen over the past decade any longer. So, yes, the U.S. housing market is headed for a complete and total nightmare." 15 Signs Housing Market Is Headed for a...
Complete Collapse
News story from yesterday. NEW YORK | Wed Sep 28, 2011 8:19am EDT
NEW YORK (Reuters) - Applications for U.S. home mortgages rose last week, reflecting a jump in demand for home loan refinancing as mortgage rates dropped, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 9.3 percent in the week ended Sept 23.
The MBA's seasonally adjusted index of refinancing applications rose 11.2 percent, while the gauge of loan requests for home purchases rose 2.6 percent.
Fixed 30-year mortgage rates averaged 4.25 percent in the week, down 4 basis points from 4.29 percent the week before.
"Mortgage rates declined last week, at least partially in response to the Fed's announcement that they would shift their portfolio toward longer-term Treasury securities, and that they would resume buying mortgage-backed securities," Mike Fratantoni, MBA's Vice President of Research and Economics, said in a statement.
The U.S. Federal Reserve last week unveiled a new stimulus plan to support the economy's recovery and help the mortgage market.
U.S. mortgage rates are linked to yields on U.S. Treasuries and mortgage-backed securities.
The housing market isn't booming of course, but it sure isn't in a total collapse, nor heading there. I bolded the important parts. THAT is why the housing market has not "totally collapsed" - there are still some manipulations that can be done. Quite frankly, all of this can-kicking can continue until OPEC decides to accept any other currency other than the dollar. Once that happens, all bets are off. BTW - how's the wife and kid doing? |
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Posted: 9/30/2011 1:49:14 AM EST
[#28]
Quoted:
What happened to the complete collapse of the housing market?
Fist-of-Freedom Posted: 8/27/2010 1:40:52 AM EDT Yet, the gravitational pull of reality waxes increasingly -irresistible. By Michael Snyder for, The Economic Collapse
via Business insider Aug. 20, 2010 "The U.S. economy is in decline. The employment situation is going to go from bad to worse. Americans without jobs are Americans that cannot buy homes. Millions of Americans who are employed are finding it increasingly difficult to make it from month to month. The truth is that there is no way that Americans can afford the ridiculously inflated home prices that we have seen over the past decade any longer. So, yes, the U.S. housing market is headed for a complete and total nightmare." 15 Signs Housing Market Is Headed for a...
Complete Collapse
News story from yesterday. NEW YORK | Wed Sep 28, 2011 8:19am EDT
NEW YORK (Reuters) - Applications for U.S. home mortgages rose last week, reflecting a jump in demand for home loan refinancing as mortgage rates dropped, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 9.3 percent in the week ended Sept 23.
The MBA's seasonally adjusted index of refinancing applications rose 11.2 percent, while the gauge of loan requests for home purchases rose 2.6 percent.
Fixed 30-year mortgage rates averaged 4.25 percent in the week, down 4 basis points from 4.29 percent the week before.
"Mortgage rates declined last week, at least partially in response to the Fed's announcement that they would shift their portfolio toward longer-term Treasury securities, and that they would resume buying mortgage-backed securities," Mike Fratantoni, MBA's Vice President of Research and Economics, said in a statement.
The U.S. Federal Reserve last week unveiled a new stimulus plan to support the economy's recovery and help the mortgage market.
U.S. mortgage rates are linked to yields on U.S. Treasuries and mortgage-backed securities.
The housing market isn't booming of course, but it sure isn't in a total collapse, nor heading there. Refinancing is the only thing that isn't in a malaise. People are buying foreclosed property but I see a lot of it and "distressed" is to nice a word to use on a lot of the houses. |
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Posted: 9/30/2011 2:21:35 AM EST
[#29]
Quoted:
What happened to the complete collapse of the housing market?
Fist-of-Freedom Posted: 8/27/2010 1:40:52 AM EDT Yet, the gravitational pull of reality waxes increasingly -irresistible. By Michael Snyder for, The Economic Collapse
via Business insider Aug. 20, 2010 "The U.S. economy is in decline. The employment situation is going to go from bad to worse. Americans without jobs are Americans that cannot buy homes. Millions of Americans who are employed are finding it increasingly difficult to make it from month to month. The truth is that there is no way that Americans can afford the ridiculously inflated home prices that we have seen over the past decade any longer. So, yes, the U.S. housing market is headed for a complete and total nightmare." 15 Signs Housing Market Is Headed for a...
Complete Collapse
News story from yesterday. NEW YORK | Wed Sep 28, 2011 8:19am EDT
NEW YORK (Reuters) - Applications for U.S. home mortgages rose last week, reflecting a jump in demand for home loan refinancing as mortgage rates dropped, an industry group said on Wednesday.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 9.3 percent in the week ended Sept 23.
The MBA's seasonally adjusted index of refinancing applications rose 11.2 percent, while the gauge of loan requests for home purchases rose 2.6 percent.
Fixed 30-year mortgage rates averaged 4.25 percent in the week, down 4 basis points from 4.29 percent the week before.
"Mortgage rates declined last week, at least partially in response to the Fed's announcement that they would shift their portfolio toward longer-term Treasury securities, and that they would resume buying mortgage-backed securities," Mike Fratantoni, MBA's Vice President of Research and Economics, said in a statement.
The U.S. Federal Reserve last week unveiled a new stimulus plan to support the economy's recovery and help the mortgage market.
U.S. mortgage rates are linked to yields on U.S. Treasuries and mortgage-backed securities.
The housing market isn't booming of course, but it sure isn't in a total collapse, nor heading there. are you jim cramer?  housing prices are down 7% from last year, how much you got to lose to be considered a loser?
who cares if there are fire sales, I can go sell dollar bills for 50cents and I'll be able to claim great sales
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Posted: 9/30/2011 3:43:38 AM EST
[#30]
So let's put the resident professor's comments into context that everybody can understand:
Mortgage applications rose 9.3% week over week this past week. As recently as Aug 31, they had fallen 9.6% WoW Wednesday, August 31st, 2011, 6:24 am The Mortgage Bankers Association's market composite index – a measure of loan volume – fell 9.6% on a seasonally adjusted basis from a week earlier. On an unadjusted basis, the index fell 10% from the previous week. As recently as Aug 24th, mortgage applications were at a 15 year low August 24, 2011 WASHINGTON (AP) — Mortgage applications to purchase a home fell last week to a 15-year low, despite the lowest mortgage rates in decades A 15 year low, despite constant and continuing intervention by the administration and the FED. Interest rates are at historical lows. There are still homeowner aid programs, as misguided as they are, limping around trying to prop up the housing market. The FED promises ZIRP until AT LEAST MID 2013. So, again, housing crash, what housing crash? |
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Posted: 9/30/2011 5:28:10 AM EST
[#31]
These " Business Insider " headlines look delightful.
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Posted: 9/30/2011 6:35:23 AM EST
[#32]
the story: Meet The Citigroup Executive Who's Engaged To Erin Burnett 
there can't be any bias in finacial news, right? |
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Posted: 9/30/2011 8:47:47 AM EST
[#33]
Quoted:
From an earlier post ^^^^... "Those who are liquid now will likely be robbed without mercy." Oh well, while you guyz are still in a good mood... "...the middle-and upper-class, which, if BCS is right, have a ~30% one-time tax on all their assets to look forward to as the great mean reversion finally arrives and the world is set back on a viable path." http://www.zerohedge.com/news/muddle-through-has-failed-bcg-says-there-may-be-only-painful-ways-out-crisis "and the world is set back on a viable path" What utter and complete horseshit! Without a reversal of laws and regs hamstringing production and employment, a reversal of Sheeple attitudes, [and at least] a semi-honest .gov, a reversal of the marxist/socialist infiltration of .gov/media/and pretty much every other American institution by now, etc... ...There is ABSOLUTELY NO POSSIBILITY OF A RECOVERY! Ever. Period. TRY TO GET THAT THRU YOUR HEADS!!!!! So, the few of you guys out there with some savings, get ready to lube up and fork it over to your overlords. This is the trial balloon going up, maybe they will ONLY want 20% [the first time around] so we won't have to cry too much since it wasn't 30%. What a deal -and a country!
I think it will start even smaller. 1 or 2 % yearly tax on IRA / 401k values. Then it will move to the remainder of household wealth. You've stated the problem. The government needs to cut Cut CUT itself in half, (and then should cut itself in half again). They are idiots. A couple years ago they borrowed ~$700,000,000,000 in order to send everyone a check. I think my family's was $1500 at the time. That didn't work, so they will take that and an order of magnitude back, without shame. |
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Posted: 9/30/2011 9:17:52 AM EST
[#34]
Quoted:
Quoted:
From an earlier post ^^^^... "Those who are liquid now will likely be robbed without mercy." Oh well, while you guyz are still in a good mood... "...the middle-and upper-class, which, if BCS is right, have a ~30% one-time tax on all their assets to look forward to as the great mean reversion finally arrives and the world is set back on a viable path." http://www.zerohedge.com/news/muddle-through-has-failed-bcg-says-there-may-be-only-painful-ways-out-crisis "and the world is set back on a viable path" What utter and complete horseshit! Without a reversal of laws and regs hamstringing production and employment, a reversal of Sheeple attitudes, [and at least] a semi-honest .gov, a reversal of the marxist/socialist infiltration of .gov/media/and pretty much every other American institution by now, etc... ...There is ABSOLUTELY NO POSSIBILITY OF A RECOVERY! Ever. Period. TRY TO GET THAT THRU YOUR HEADS!!!!! So, the few of you guys out there with some savings, get ready to lube up and fork it over to your overlords. This is the trial balloon going up, maybe they will ONLY want 20% [the first time around] so we won't have to cry too much since it wasn't 30%. What a deal -and a country!
I think it will start even smaller. 1 or 2 % yearly tax on IRA / 401k values. Then it will move to the remainder of household wealth. You've stated the problem. The government needs to cut Cut CUT itself in half, (and then should cut itself in half again). They are idiots. A couple years ago they borrowed ~$700,000,000,000 in order to send everyone a check. I think my family's was $1500 at the time. That didn't work, so they will take that and an order of magnitude back, without shame. I think you are mis-judging the .gov policy 'writers'. Instead, I think they are BRILLIANT. Who else would be able to destroy the once greatest in every way nation on earth ––- ––-FROM WITHIN????? With the nearly complete––- ASSISTANCE OF THE VERY PEOPLE WHO WILL LOSE THEIR FREEDOMS AND SUSTENANCE???? To achieve a political agenda that goes against everything we were taught––- 50 YEARS AGO!!!! Folks, what's happening has to be analyzed outside the conventional box––- BECAUSE WHAT'S HAPPENING IS ALMOST TOO INCOMPREHENSIBLE for most fair and normal minded folks to consider possible. |
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Posted: 9/30/2011 9:28:15 AM EST
[#35]
Quoted:
<snip> Folks, what's happening has to be analyzed outside the conventional box––- BECAUSE WHAT'S HAPPENING IS ALMOST TOO INCOMPREHENSIBLE for most fair and normal minded folks to consider possible. Likely nothing but simple greed with a liberal dose of corruption, but I like how you think. |
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Posted: 9/30/2011 9:36:19 AM EST
[#36]
Quoted:
Quoted:
<snip> Folks, what's happening has to be analyzed outside the conventional box––- BECAUSE WHAT'S HAPPENING IS ALMOST TOO INCOMPREHENSIBLE for most fair and normal minded folks to consider possible. Likely nothing but simple greed with a liberal dose of corruption, but I like how you think. And if what's happening is not quite so 'innocent'???? 
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Posted: 9/30/2011 9:58:54 AM EST
[#37]
Quoted:
Quoted:
Quoted:
<snip> Folks, what's happening has to be analyzed outside the conventional box––- BECAUSE WHAT'S HAPPENING IS ALMOST TOO INCOMPREHENSIBLE for most fair and normal minded folks to consider possible. Likely nothing but simple greed with a liberal dose of corruption, but I like how you think. And if what's happening is not quite so 'innocent'????
I gotta go with a mix of both. Posted Via AR15.Com Mobile |
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Posted: 9/30/2011 12:57:15 PM EST
[#38]
Quoted: So let's put the resident professor's comments into context that everybody can understand: Mortgage applications rose 9.3% week over week this past week. As recently as Aug 31, they had fallen 9.6% WoW Wednesday, August 31st, 2011, 6:24 am The Mortgage Bankers Association's market composite index – a measure of loan volume – fell 9.6% on a seasonally adjusted basis from a week earlier. On an unadjusted basis, the index fell 10% from the previous week. As recently as Aug 24th, mortgage applications were at a 15 year low August 24, 2011 WASHINGTON (AP) — Mortgage applications to purchase a home fell last week to a 15-year low, despite the lowest mortgage rates in decades A 15 year low, despite constant and continuing intervention by the administration and the FED. Interest rates are at historical lows. There are still homeowner aid programs, as misguided as they are, limping around trying to prop up the housing market. The FED promises ZIRP until AT LEAST MID 2013. So, again, housing crash, what housing crash? As usual he makes a snide personal attack on me and then totally ignores the main issue of 36 months of stupidty from himself and others. Instead he focuses on a narrow issue of my post and also ignores the post of FofF from a year ago that said the Housing market would be non functional or near it. Typical 'global warming' type denial and misdirection and attacks. over 36 fucking months guys. I bet we will still be here doing this at 60 months. 
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Posted: 9/30/2011 1:09:26 PM EST
[#39]
Quoted:
So let's put the resident professor's comments into context that everybody can understand: Mortgage applications rose 9.3% week over week this past week. As recently as Aug 31, they had fallen 9.6% WoW Wednesday, August 31st, 2011, 6:24 am The Mortgage Bankers Association's market composite index – a measure of loan volume – fell 9.6% on a seasonally adjusted basis from a week earlier. On an unadjusted basis, the index fell 10% from the previous week. As recently as Aug 24th, mortgage applications were at a 15 year low August 24, 2011 WASHINGTON (AP) — Mortgage applications to purchase a home fell last week to a 15-year low, despite the lowest mortgage rates in decades A 15 year low, despite constant and continuing intervention by the administration and the FED. Interest rates are at historical lows. There are still homeowner aid programs, as misguided as they are, limping around trying to prop up the housing market. The FED promises ZIRP until AT LEAST MID 2013. So, again, housing crash, what housing crash? Impossible. I specifically remember Sherrick explaining to us that everything was just fine in rural Oklahoma. |
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Posted: 9/30/2011 2:26:49 PM EST
[#40]
Quoted:
As usual he makes a snide personal attack on me and then totally ignores the main issue of 36 months of stupidty from himself and others.. Where's the snide attack? Aren't you a professor? Other than that please define in specifics where the attack is. 
While you're at it, please tell us why a single week-over-week data point is useful in calling a "collapse" over or not or useful in defining anything in a statistical, mathematical or trending application. |
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Posted: 9/30/2011 2:56:04 PM EST
[#41]
I'm not making this up - don't feed the troll.
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Posted: 9/30/2011 3:07:19 PM EST
[#42]
Quoted:
I'm not making this up - don't feed the troll. Like moths to a flame.... |
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Posted: 9/30/2011 3:16:22 PM EST
[#43]
Minimum Wage Comparison
Don't quite know where to plug it in ... |
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Posted: 10/1/2011 8:32:01 AM EST
[#44]
Social justice costs more than $10/HR.
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Posted: 10/1/2011 3:33:35 PM EST
[#45]
Looking at the comparisons for TVs and other consumer goods I was struck by the thought that the guy buying one in the early 1970s was purchasing a product made by a fellow American. That is not the case at all today. |
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Posted: 10/1/2011 4:21:02 PM EST
[#46]
Quoted:
Looking at the comparisons for TVs and other consumer goods I was struck by the thought that the guy buying one in the early 1970s was purchasing a product made by a fellow American. That is not the case at all today. Yep, and those American guys got a chunk taken out of their checks - like a rebate of sorts that we don't get from the folks working in Asia. |
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Posted: 10/1/2011 6:40:21 PM EST
[#47]
Quoted: Quoted: As usual he makes a snide personal attack on me and then totally ignores the main issue of 36 months of stupidty from himself and others.. Where's the snide attack? Aren't you a professor? Other than that please define in specifics where the attack is. While you're at it, please tell us why a single week-over-week data point is useful in calling a "collapse" over or not or useful in defining anything in a statistical, mathematical or trending application. Yes, it is. The way you use it. Don't be fucking stupid. You know exactly what you mean by it. I do not bring your profession or side jobs into your misunderstanding of economics. Nor do I refer to you in any other way than Mongo. And FofF posted an article over a YEAR AGO that referenced the Housing market thus So, yes, the U.S. housing market is headed for a complete and total nightmare." 15 Signs Housing Market Is Headed for a... Complete Collapse
I posted an article that showed FofF to be full of complete shit. I didn't post it to show the housing market of free of all ills. You either chose to ignore it or are too ignorant of the market to realize that it isn't 'in complete collapse'. You aren't dumb, thus I think you chose to ignore it. You are smart, but have chosen to worship at the altar of 'economic collapse' and that has fucked up your perception of nearly everything economic. |
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Posted: 10/1/2011 6:40:45 PM EST
[#48]
If you foreclose or walk away from an underwater house, the banks are comming after you for the balance.
Link |
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Posted: 10/1/2011 7:02:17 PM EST
[#49]
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Posted: 10/1/2011 7:46:36 PM EST
[#50]
I would prefer to see a comparison to 2011 which has a higher inflation. Unless there's a $0.99 teaser sale price, 12 eggs are more like $2 |
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